We have 50k journals right now. I'd argue we don't need 49,999 of them. In particular, journals that now have to do all kinds of "work" to attract authors maybe shouldn't exist in the first place?
Editorial boards should be hoping to handle FEW manuscripts, so they can devote their full attention to the ones they do handle. This whole concept of supposedly needing to separate the wheat from the chaff is at the root of all evil in today's journals.